Mastercard

The balance sheet is robust. As of June 30, 2025, cash, cash equivalents and investments were ~9.4B dollars with an unused 8B dollars revolver; total debt was ~19.0B dollars and no commercial paper drawn. TTM operating cash flow was ~16.95B dollars and capex‑like spend ~1.09B dollars, yielding ~15.9B dollars in FCF.

Such cash generation and liquidity comfortably fund buybacks, dividends, acquisitions, and litigation needs, with low refinancing risk across a well‑staggered senior notes portfolio.